Esquire Financial Holdings Enters Definitive Merger Agreement With Signature Bancorporation; Signature Shareholders To Receive 2.63 Shares Of Esquire Per Share Of Signature; Transaction Expected To Close Q3 2026

Under the terms of the merger agreement, shareholders of Signature will receive a fixed exchange ratio of 2.63 shares of Esquire common stock for each share of Signature common stock. The per share value equates to $260.48 for Signature shareholders based on the closing price of Esquire common stock on March 11, 2026, or approximately $348.4 million in aggregate transaction value.

The exchange ratio is subject to an adjustment based on the disposition value of certain Signature Bank loans with a total par value of approximately $70M ("Schedule A Loans").  The adjusted Exchange Ratio at closing will be no higher than 2.80 and no lower than 2.50.  Signature has initiated a sale process and is expected to dispose of Schedule A Loans prior to closing.